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Nominal Effects of Fiscal and Monetary Policies in Greece

Nominal Effects of Fiscal and Monetary Policies in Greece
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Year:    1992

Author:    Karras, Georgios

Credit and Capital Markets – Kredit und Kapital, Vol. 25 (1992), Iss. 3 : pp. 416–427

Abstract

Nominal Effects of Fiscal and Monetary Policies in Greece

This paper investigates the effects of fiscal and monetary policies on the price level and the exchange rate in Greece. Expansionary monetary policies are found to be significantly responsible for inflation and the depreciation of the drachma. Budget deficits have milder inflationary effects and, in the short-run, appreciate the currency. Fiscal expansions are also followed by increases in the money growth, a finding that shows a conflict between monetary and fiscal policies and argues in favor of more independence for the central bank

Journal Article Details

Publisher Name:    Global Science Press

Language:    Multiple languages

DOI:    https://doi.org/10.3790/ccm.25.3.416

Credit and Capital Markets – Kredit und Kapital, Vol. 25 (1992), Iss. 3 : pp. 416–427

Published online:    1992-03

AMS Subject Headings:    Duncker & Humblot

Copyright:    COPYRIGHT: © Global Science Press

Pages:    12

Author Details

Karras, Georgios

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Section Title Page Action Price
Georgios Karras: Nominal Effects of Fiscal\rand Monetary Policies in Greece 416
I. Introduction 416
II. Empirical Estimation 417
III. Conclusion 426
References 426
Summary: Nominal Effects of Fiscal and Monetary Policies in Greece 427
Zusammenfassung: Nominale Effekte der griechischen Fiskal- und Geldpolitik 427
Résumé: Effets nominaux des politiques fiscale et monétaire en Grèce 427